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Market Analysis

January, 2021

  • 8 January 2021 2:06 pm

    Oil Near an 11-Month Peak, Thanks to a Saudi Pledge to Cut Production

    Oil prices held near an 11-month high on Friday (January 8th) and is on track for strong weekly gains as Saudi Arabia’s pledge to cut production continued to support market sentiment. Brent crude rose 13 cents, or 0.2%, to $ 54.51 a barrel. The global benchmark touched $54.90 on Thursday, …

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  • 8 January 2021 1:48 pm

    Gold Falls as Bond Yields Rise And Pressure From a Rising Dollar

    Gold fell on Friday, January 8th, as the dollar and US Treasury yields rose, but hopes for additional stimulus in the world’s largest economy kept the yellow metal on track for gains for the second week in a row. Spot gold fell 0.3% to 1,907.66 dollars but it has risen …

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  • 8 January 2021 1:00 am

    Oil Maintains Gains for Third Day

    Oil prices rose on Thursday for the third consecutive session, supported by the recent OPEC+ agreement to curb output and the large drop in crude inventories in the United States. Brent crude futures for March delivery closed higher by 8 cents, or 0.2%, at $54.38 per barrel. Meanwhile, the West …

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  • 8 January 2021 12:30 am

    Gold Shows Some Recovery Signs

    Gold prices rose on Thursday, recovering some of its big losses on Wednesday, which were due to the surge in Treasury yields in the United States and were the first in a week. With Democrats taking over a majority in the U.S. Senate, more fiscal stimulus spending is expected, which …

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  • 8 January 2021 12:15 am

    Bitcoin Trades Above $40,000 for First Time Ever

    Bitcoin continued its rising rally on Thursday, going above $40,000 for the first time ever, supported by a recent surge in demand especially from institutional investors. This means that the market value of the world’s largest digital briefly exceeded $1 trillion today. Bitcoin, the biggest cryptocurrency in the world, has …

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  • 7 January 2021 10:31 pm

    European Stocks Close in Green

    European stocks closed higher on Thursday, supported by the gains of the construction and commodity sectors. In addition, global markets were affirmed by the confirmation of the election of Joe Biden to be the next President of the United States, after riots erupted in Washington D.C. on Wednesday causing concerns …

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  • 7 January 2021 9:21 pm

    Goldman Sachs Sees Democrats Spending $750 M in Extra Stimulus

    Goldman Sachs expects new government stimulus spending in the United States at around $750 billion during the first quarter (Q1) of 2021, after Democrats gained a majority in the U.S. Senate after winning the Georgia elections. This means that the Democratic Party will be in control of both the White …

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  • 7 January 2021 8:42 pm

    Facebook and Instagram to Block Trump’s Accounts for Two Weeks

    Social media platforms, Facebook and Instagram, will impose a suspension on the official accounts of the President of the United States, Donald Trump, for at least two weeks, until the end of his presidency term, the CEO of Facebook Inc. Mark Zuckerberg revealed. This comes after Facebook and Instagram, as …

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  • 7 January 2021 7:49 pm

    Fed’s Harker: Bond Buying to Continue until 2022

    The President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Thursday that he expects the United States Federal Reserve to continue with its bond buying activity at least until the end of 2021, Reuters reported. The continuity of asset purchases at the current pace depend on the …

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  • 7 January 2021 7:36 pm

    ISM Services Index Rises in December

    The activity of the services sector in the United States expanded in December, data showed on Thursday. The non-manufacturing activity index registered 57.2 in December, up from a reading of 55.9 in November, according to the Institute for Supply Management (ISM). The index came very close to its level prior …

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  • 7 January 2021 5:37 pm

    ECB Bulletin: High-frequency Indicators, Latest Survey Results Consistent With a Fall in GDP in Q4

    The European Central Bank said in a periodic economic bulletin that economic indicators for the eurozone indicate that the economy will contract in the last quarter of 2020. “Survey indicators point to a renewed contraction in an activity primarily affecting the services sector.” “Financial conditions in the euro area have …

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  • 7 January 2021 5:19 pm

    US: Challenger Job Cuts Rise to 77.03K in December

    Planned job cuts in the US-based employers rose to 77,030 in December from 64,797 in November, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

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  • 7 January 2021 5:16 pm

    Dollar Falling as Democrats Advance The Run-Off Election in Georgia

    The dollar rose on Thursday, January 7, hovering above its lowest level in nearly three years, after the Democrats won control of the US Senate, paving the way for a possible greater fiscal stimulus under President-elect Joe Biden. Currency markets were not affected much by the scenes of chaos in …

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